20—Lancaster Farming. Saturday. Nov. 16, 1974
U.S.
Hit
By DEWAIN H. RAHE
Foreign Demand and
Competition Division
Economic Research Service
U.S. Dept, of
Agriculture
The value of U.S.
agricultural exports in the
first quarter of fiscal 1975 hit
in alltime record of $4.5
billion, rising 8 percent
higher than the total of a
year earlier. All of the in
crease in this quarter
stemmed from higher prices
is the volume of most
commodities was nearly 10
percent below that of the
comparable period a year
BEEF SALES
MONDAY 2:30 P.M.
THURSDAY 12:00 NOON
Sale Order - Fat Bulls, Steers, Stockers, Beef
Cows and Veal Calves
NEW HOLLAND SALES STABLES, INC.
Phone 717-354-4341
Daily Market Report Phone 717-354-7288
Abe Diffenbach, Manager
Field Representatives - Bob Kling 717-354-5023
Luke Eberly 215-267-6608
-i mm
1m
Three single-beater choices
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John Deere offers three economical
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Unique 18-mch drum (top) is
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holds in soft manure
Nine-inch drum (center) plugs
some of the gap also handles
ADAMSTOWN
EQUIPMENT INC.
Mohnton, RD2, Pa 19540
|near Adamstown)
Phone 12151 484 4391
SHOTZBERSER’S LANDJS BROS. INC.
665 Z ' 4l Lancaster 393 3906
Farm Exports
Record High
earlier.
Farm exports produced a
favorable agricultural trade
balance of $2.0 billion in
July-September 1974,
compared with $2.2 billion
for this period a year earlier.
The rise in the trade deficit
in nonfarm products to $5.4
billion in July-September
1974, from $2.1 billion for
these same months in 1973 -
primarily because of the
sharp increase in petroleum
imports - caused the overall
trade balance to be in the red
by $3.4 billion in the first
quarter of 1974-75.
Significant volume gains
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Paddle beater (bottom) takes
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Whether your operation produces
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GROFF, INC.
354 4191
. 696 2990
West Chester
occurred In the first quarter
of fiscal 1975 for soybeans,
vegetable oils, protein meal,
tobacco, rice, cattle hides,
poultry meat, and inedible
tallow. But sharp declines in
wheat and feedgrains were
far larger than these gains.
Substantial value jumps
were noted for soybeans and
soybean oil, tobacco, rice,
fruit, nuts, vegetables, fats
and oils, hides and skins,
poultry products, and cotton.
With the exception of those
to the USSR, U.S. exports to
all destinations increased in
the first quarter of the fiscal
year. The biggest gains
occurred in exports to the
developing countries of Asia,
Africa, and Latin America.
Exports to Japan and
Western Europe were about
the same as a year earlier.
Shipments to Canada rose
about a fourth, primarily
because of volume expansion
and higher prices of hor
ticultural products. Drought
reduced grain production in
South Asia and Africa in
creased demand for U.S.
food products. Exports to the
People’s Republic of China
(PRC) were about the same
in value as the $230 million
exported during July-
September 1973.
U.S. exports of grains and
preparations fell by 9 per
cent to $2.3 billion from $2.5
billion a year earlier. The
decline was concentrated in
shipments of wheat and
feedgrains. Rice exports
were up both In quantity and
value.
Wheat exporta of slightly
over 7 million tons were
sharply below last year’s
10.4 million tons. Wheat
exports in the first quarter of
fiscal 1974 were larger than
in the same period in the
current year because of
continued big movements to
the Soviet union from its
U.S. wheat purchases of a
year earlier.
Improved wheat harvests
in some importing countries
also reduced purchases from
the United States during the
first quarter of fiscal 1975.
Wheat exports are expected
to pick up later in the year
because of a drop in world
grain production. Much of
the decline in U.S. wheat
exports during the first
quarter of fiscal 1975 oc
curred to the USSR, the
PRC, Argentina, Venezuela,
the European Community,
and Japan. Exports to
Turkey, Iran, India,
Pakistan, Bangladesh, and
Mexico were higher.
Wheat exports of $l7O
million to the PRC were
about the same as a year
earlier, while volume was
down one-half million tons.
Developing countries took 63
percent, or 4.4 million tons,
of U.S. wheat during the first
quarter of 1974-75. Export
values of U.S. wheat during
July-September 1974
averaged $159 per metric
ton, compared with about
$ll6 a year earlier.
U.S. feedgrain exports
during July-September 1974
of 7.3 million tons were two
fifths below the 12 million
tons exported in the same
period of 1973. With higher
prices, however, the value of
U.S. feedgrain exports - at
$9Ol million - was only one
fifth below that of a year
earlier. Export volumes
declined, especially to
Mexico, the EC, the USSR,
Japan, India, and the PRC.
During this period many
foreign importers purchased
more of their feed-grain
requirements from Southern
Hemisphere countries, most
of which had very good
feedgrain crops during the
past year. In addition
relatively low U.S. feedgrain
stocks and consequent high
prices this year tempered
exports in the first quarter.
Nearly all of the declines
in feedgrain exports during
the first quarter occurred to
developed countries.
Traditionally, shipments to
developed countries account
for about 72 percent of U.S.
feedgrain exports. Export
value of feedgrains rose to
an average of $124 per
metric ton in July-
September in 1974, from $92
for the same period a year
earlier.
U.S. rice exports gained by
about one-third in quantity.
A 34 percent jump in prices
spurred a 93 percent rise in
value. Most of the increase
occurred in exports to South
Korea, Japan, Cambodia,
and Iran.
U.S. exports of oilseeds
and products rose by 55
percent to $921 million m the
first quarter of fiscal 1975
with the increase con
centrated m soybeans and
soybean oil. Their export
prices were somewhat below
the record set in the first
quarter of fiscal 1974 when
supplies were short and U S.
export quotas were unposed.
Export volumes of soybeans,
soybean oil, and soybean
meal were all about double
the levels of a yeai earlier
The volume increase
occurred unmanly in e v -~
ports to the EC and oth'
Wo t European countries
But die PRC and Canada
| Continued on Page 211
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